WPP (NYSE:WPP) Shares Gap Up to $51.16

WPP plc (NYSE:WPP)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $51.16, but opened at $52.98. WPP shares last traded at $52.01, with a volume of 53,247 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WPP shares. Citigroup upgraded WPP to a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com upgraded shares of WPP from a “hold” rating to a “buy” rating in a research note on Sunday, September 8th.

WPP Stock Up 1.2 %

The stock’s 50-day moving average price is $47.67 and its two-hundred day moving average price is $48.45. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $11.75 billion, a P/E ratio of 8.70, a P/E/G ratio of 7.35 and a beta of 1.29.

WPP Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a $0.954 dividend. This is a boost from WPP’s previous Semi-Annual dividend of $0.24. This represents a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 11th. WPP’s payout ratio is currently 51.93%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in WPP by 767.1% during the 2nd quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock worth $35,000 after purchasing an additional 652 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of WPP in the first quarter valued at approximately $39,000. Voisard Asset Management Group Inc. purchased a new position in WPP during the fourth quarter valued at approximately $45,000. EverSource Wealth Advisors LLC increased its holdings in WPP by 62.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock worth $66,000 after acquiring an additional 505 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in WPP in the 2nd quarter worth approximately $80,000. 4.34% of the stock is owned by institutional investors.

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.